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buyers are chasing up the prices of private properties. there is surely a peak to how high the prices can go. beyond a certain point, the bubble will reach its expansion limit and burst. then the property mkt will crash. this is of course my own theory. any of you think such high property prices are sustainable in the long run?

I got a colleague who has just tendered his job. He said he is going to be a property agent, saying how much money agents can make. So i want to find out how much does a full time property agent make. Not the top agents and not those that just join for a few months only. Those really average agents who is doing full time and has been in this field for say 5 years? I also know it depends on whether the economy is booming or in recession....but just a really average figure. Thanks

The local economy is not doing good with record contraction of GDP. Govt have to offer rescue packages to citizens. Why then the property market is so hot? Every new launches are snapped up within days. Any Reason?

Under Section 38 (1) Property Tax Act Section 38 (1) Property Tax Act In which circumstances do we need to react to this act? Is it possible that someone nominated another person as his/her agent without his/her consent? And seriously...what the hell is this act anyway?? Thanks in Advance

SINGAPORE: A 33-year-old woman got herself on the wrong side of the law after she allegedly took the rap for a traffic offence. Leung Man Kwan, an associate director with property firm HSR International Realtors, was charged on Thursday with obstructing the course of justice. The court heard that Leung received S$1,000 from Evangeline Tay Su Ann in February 2008. In return, Leung took the rap for a traffic offence committed by Tay in January that year. Tay, who was driving her friend's car, failed to stop at a red light at the junction of Lornie Road and Sime Road. She then asked a friend to help her find someone who would take the rap on her behalf. When approached, Leung, who was in financial difficulties, agreed to do so. If convicted of obstruction of justice, she could be jailed for up to seven years, fined, or both. - CNA/so Source: CNA

Dear Bro & Sis, Need some advice and hope you could share your views and experience.. 1. If you have $150K, would you buy a small condo (like 2 rooms) to rent it out? 2. If yes, I suppose $150K can only afford downpayment and stamp duty fee of an estimated $650K condo? 3. Where is the better location to consider? 4. Can the rental cover the monthly installment? Tks!

Age can't catch up with realty whizz He joined ERA at 55 and made his mark as a top agent in just three years. Tue, Dec 30, 2008 The Straits Times By Lorna Tan Mr Syed Abdullah Alhamid was 55 when he joined property agency ERA Singapore in 2000 as an agent. He made his mark quickly. As the company's top producer for three consecutive years from 2003 to 2005, Mr Syed Abdullah, now 62, is proof that age is no barrier when one has the drive and passion in his work. In fact, he enjoys his current job more than his previous ones, including those as a dealer at stockbroking firm JM Sassoon and as an economics teacher. He was so good in closing transactions that he was ranked as ERA World No.1 Top Volume Producer 2003 (for ERA Europe & Asia-Pacific) at the ERA International Conference in Las Vegas in the United States in March 2004. He closed 265 transactions in 2003, averaging 22 transactions a month. Last year, he won the ERA Singapore Top Record Transactor title, when he closed a record of 37 transactions in April. As a rookie agent in his first year, he earned $175,000 in commissions. At his peak in 2004, he made in excess of $800,000. Since his fourth year, his yearly commissions have averaged more than $500,000. An ERA division director since 2006, he earns an additional overriding commission of about $60,000 to $100,000 a year from his more than 150 associates. As at the end of last month, he has already crossed the half-million- dollar mark in gross commissions. He is married to a former group financial controller, Zainah Mustafa, 53, and they have five children. He loves to bowl and jog. Today, he can still do a 5km jog at eight minutes per km comfortably. He believes that his fortune is also due to the blessings from Allah, and so contributes regularly to the Muslim community. Q: What's the most expensive property you've ever transacted? It was a double-storey semi- detached house in District 15 for $2.2 million. At 2 per cent commission, the total gross commission for this transaction alone was a cool $44,000. On average, about 90 per cent of my transactions are HDB units, and 10 per cent, landed properties and condos. Q: What are your money habits? To me, cash is king. Currently I have more savings (80 per cent) than money in investments (20 per cent). This is simply because I am still supporting my twins - a daughter doing her final year in medicine at Monash University in Melbourne and a son doing his final year honours degree in biochemistry at Nanyang Technological University. He wishes to further his studies up to a PhD. My youngest son, who graduated with a diploma in electrical & electronic engineering at Singapore Polytechnic, and is now working with Hewlett-Packard, has hinted to me that he too would like to pursue his university degree after a few years of working experience. So you see, they are all on father's scholarships. Hence the necessity to have liquid assets like savings and stocks. Q: What financial planning have you done for yourself? I do simple planning in that I need to ensure that I have enough savings. Every month I make sure I put aside enough to cover all basic expenses such as loan instalments for the house and maximum CPF contributions for me, my wife and my second daughter, who helps me with my real estate work. The extras I keep in my 'float' for opportunities such as in foreign exchange and stocks. Recently, when the US financial crisis worsened, I converted all my blue chips to cash at a small loss. I am also monitoring the Australian and New Zealand currencies closely. For instance, I recently invested when the Aussie dollar was at parity to the Singapore dollar and I may exit when it hits A$1.25 to A$1.30. I put my cash in fixed deposits and savings account. Q: What about insurance planning? Not much. I have a whole life and hospitalisation coverage. My annual premium is about $5,000. Q: What stocks do you invest in? I normally 'nibble' on blue chips in the Singapore stock market whenever there is a correction, particularly when the market is down suddenly due not to the local economy's fundamentals, but because of overseas events which affect the local market temporarily. I always go for blue chips such as Singapore Press Holdings (SPH), Singapore Airlines (SIA), OCBC Bank, DBS Bank, United Overseas Bank (UOB), SembCorp Industries and SingTel. I don't keep them for very long periods. I will monitor them closely to offload them once they give more than 10 per cent returns. Q: Moneywise, what were your growing-up years like? I came from a poor and big family of 10 kids where I was the fifth child. My late father was a bill collector earning enough to make ends meet. I was eight when he died. My second eldest brother had to leave school and he took over as the family's breadwinner. I gave mathematics tuition from Secondary 3 and earned $60 a month. After O levels at Raffles Institution, I delayed my pre-university education and joined the teaching service to support the family because my second eldest brother met with an accident and was in a coma. My older sister too had to work to support the family. I resumed my pre-university studies privately after five years of teaching and did my A levels as a private candidate. I went to the National University of Singapore and graduated with a second class upper honours degree in economics. Q: What has been a bad investment? A bad expensive investment was in 1993 when after being loaded with cash during the super bull market, I tried my hand at publishing. The first issue of the Malay bi-monthly magazine Melayu Baru went well and we broke even operationally. My mistake was I left everything to my staff to run the show as I was busy with the stock market. But the company was bleeding before the second issue could be released because of over-spending. Since I did not have the time to monitor it, I decided to close shop. I lost about $150,000. It was an expensive investment experience. Q: Your best investment to date? It was my CPF investment in properties. In the mid-1980s, I used purely my CPF Ordinary Account savings to buy a new HUDC maisonette at Eunosville in Sims Avenue for $230,000, after disposing of my five-room point block flat in Bedok South at a profit of $100,000. After about eight years, I sold the HUDC unit for $510,000, which translates to more than 100 per cent in profit. I bought an HDB executive maisonette at Simei for $345,000 again using purely CPF funds, just before the property boom started in 1996/1997. I sold it in 2003 and made about $100,000. Q: What's your retirement plan? My immediate goal is to build up my team of associates to 300 in the next two to three years. I used to close 20 to 25 housing deals a month. I will slow down on my own sales to say, 10 to 15 transactions a month, and devote more time to coaching my associates. That way, I can earn more passive income through my overriding commission. Some senior and group divisional directors at ERA are earning over $30,000 a month in passive income and that's my target - to achieve financial independence and still do some work. I estimate that I would need $3,000 to $5,000 a month for my wife and myself when my liabilities are fully paid up. Q: And your home now is...? An HDB executive maisonette in Tampines which I bought in 2005 for $430,000. It is now worth about $530,000. Q: And your car is...? An MPV seven-seater 2.5 litre Nissan Presage.

http://newpaper.asia1.com.sg/news/story/0,...,185089,00.html? TENANTS can afford to be picky these days as the property market turns sluggish, and recession fears abound. But not if the lease is in Chip Bee Gardens near Holland Village, with its popular black and white inter-terrace houses. Instead of cutting rents, the landlord - JTC Corporation - has raised them. And for some tenants, by as much as 90 per cent. JTC's justification is that the tenancy agreements had to be revised to reflect rising rental market in the last two years. But some of the tenants are angry with what they see as an ill-timed increase, given the economic climate. About 40 tenants have two-year leases which will end in the next three months. JTC's 349 state-owned three-bedroom terraces have an area of 1,356 sq ft each. After the hike, the rents range from $3,400 to $3,900 a month, according to the location and condition of the units. HIKE: Despite the economic gloom, the rents for these terrace units at Chip Bee Gardens have been increased this year. TNP PICTURES: KUA CHEE SIONG One tenant, visual artist Ketna Patel, 39, saw her rent jump by more than 50 per cent this month. The Uganda-born Singapore PR, who is married to a musician, has been living in the estate for 13 years. The couple have been renting two terrace units alongside each other, paying $2,500 each for them. One is their home, while the other functions as a studio. They spent $50,000 to renovate the two units four years ago. The couple said they received a letter from JTC about two weeks ago, saying the rent would go up to $3,800 each for the two units. Said Ms Patel: 'That is unreasonable in this market. We can't afford it and, with the new rates, we definitely can't afford to rent here any more.' The couple have until the end of this month to decide whether to stay put and pay the higher rent, or move out. They are considering leaving the country altogether if they can't find cheaper accommodation in the area. Ms Patel said the rent was $2,500 when they moved into the estate in 1995. At that time, they were renting only one unit. Though the rent was revised whenever their two-year lease expired, they had never paid more than $2,500. Ms Patel also felt it was high-handed of the landlord to give them such a short notice period and no room to negotiate. Physiotherapist Surendra Ratnam, 38, said the rent for his family home has increased 90 per cent - from $2,000 to $3,800. His 68-year-old mother has been renting the same unit in the estate since 1991. The family paid $1,600 in rent back then. Mr Ratnam, who works in India, flies back to Singapore every few months. He said: 'Naturally, my mother is very upset about the whole thing. She has been here for such a long time. 'She has always paid her rent on time and has even done up the place. JTC has not been flexible at all.' He said they were informed about the increase only two weeks ago and they have to move out by the end of the month. This short notice does not give them much time to consider other options. Added Mr Ratnam: 'We're angry at the manner that this has been dealt with. They (JTC) are short-sighted because they don't see that this will mean an exodus of artists.' He said his mother has been offered a smaller loft unit in the area by JTC, at $2,800 a month. They're also looking to buy a five-room HDB flat in Toa Payoh. The quirky neighbourhood attracts a motley mix of expatriates and locals setting up homes or studios there. They include painters, photographers, architects, actors. There are also some doctors. Holland Village and the surrounding offbeat area was cited as one of Singapore's little Bohemias by then Prime Minister Goh Chok Tong in his National Day Rally speech back in 2002. Bohemian But Ms Patel fears this bohemian aspect will be lost to the high rents as more artists leave. 'Without Chip Bee Gardens, there's no point for us to stay here,' she said. 'They (JTC) keep saying the increase is due to market forces. 'But this is not just about money. That is so short-sighted. They (JTC) don't understand the consequence that more artists will leave this community.' When contacted, JTC explained that the estate is managed on a commercial basis and so the rental rates are determined based on market comparables. Added a JTC spokesman: 'In the last two years, real estate market rentals have moved up significantly as a result of the property boom and inflow of foreign talent. 'So, Chip Bee Gardens' rentals have also been adjusted in line with market movements.' JTC said the market rent of the terraces there ranges from $3,500 to $4,000 per month, according to external valuers. JTC had also received as many as 80 rental enquiries in the last two months, and had a list of potential tenants waiting to take up any vacant unit at the prevailing rent. The estate is now at full occupancy. The spokesman said JTC would continue to monitor the market closely and adjust the rents, if necessary, to ensure that they are in line with market rates. -------------------------------------------------------------------------------- JTC: Rent is reasonable ARE JTC's rents pegged too high? Mr Eric Cheng, executive director of HSR Property Group, said JTC's asking rent of about $3,600 is reasonable. For example, monthly rents for inter-terrace houses in the Holland Village area were about $4,500 last year. They have dropped this year and are in the region of $3,200 to $3,800 now, depending on the unit's condition. He said: 'Their (JTC's) pricing is right. The property market may be weak, but don't forget that there is still demand for those units.' Mr Cheng advised the existing tenants to take the opportunity to secure the lease because they've enjoyed fairly low rent for the last two years. If these tenants average their rent out over the four years, their rent per month will work out to about $3,000. He said: 'I don't think some tenants leaving because of higher rents will affect the culture of the estate much, or the demographics. 'There's still demand for those houses. If a group of artists move, a different group will take over.'

Hi Can i check how much does legal fees usually come up to for a property (pte condo) purchase? I will need to use CPF funds to buy .. What are your experiences like?

For those interested in buying a property, pls get an updated valuation from the bank before you buy. Call yourself if possible. Valuation has dropped alot alot alot. Possibility of this drop may be due to the unwillingness to lend.

Business Times - 14 Nov 2008 River Valley condo Luma relaunches with prices halved Units going for $1,450 psf, down from $2,800 psf at launch last year By SIOW LI SEN (SINGAPORE) The big property sale has begun - although, in this case, it could reflect the situation of the developer rather than the state of the market. Prices have been slashed by half at Luma, a 75-unit freehold luxury condominium at River Valley Grove. Relaunching this weekend, units at Luma are being offered at $1,450 per square foot, down almost 50 per cent from $2,800 psf when it was first launched last year. About 10 units had been sold, mainly in Dubai and Hong Kong. SISV-Realink data shows two units on the 25th floor changed hands at $2,837 psf and $2,586 psf in April this year. These prices were already much lower than those for two units on the 20th and 26th floors, which went for $3,349 psf and $3,291 psf in August last year. At the time, some speculated that prices could soon reach $4,000 psf. Luma (which will be completed in 2011) has three units on each floor, ranging from 743 sq feet to 1,173 sq feet. The developer behind the project is the mid-sized Novelty Group, which is also in the department store business. Luma sits on an en-bloc site at St Thomas Walk which Novelty bought in 2006 for $76.5 million, or about $810 psf of potential gross floor area. The relaunch of Luma is believed to be the first among luxury condominiums as other developers are holding back, given the weak market. Nicholas Mak, director of research and consultancy at Knight Frank, said more of the smaller developers could be relaunching at lower prices. 'The bigger ones are discreetly offering soft discounts, such as lifestyle vouchers,' he said. 'I think the chief aim is to move units, to increase sales. They've probably done their sums - they expect to do a level of sales to achieve breakeven point, which will lower their borrowings and feel more comfortable,' Mr Mak added. Banks are probably repricing loans, and some developers that have revolving facilities or variable- rate loans may feel the pinch. 'More smaller developers will be doing this if the economic situation worsens,' said Mr Mak. The Novelty Group also bought White House Park Apartments in Stevens Road for $22 million from Asia General Holdings. It also has developments in Pasir Panjang, Geylang, Yio Chu Kang and Pasir Ris.

Now watching a blogtv on CNA debating should serangoon garden technical school allow to transform to a foreign worker lodging....after hearing to this "Mdm Rose Tan" serangoon garden resident defensive reasons and excuses, already can tell that she and the rest of the residents ultimately scare their property price will drop, c'mon serangoon garden residents why dun you just admit that the whole episode has a hidden agenda....that is "property price"....they believe the area is going to be another holland v

anyone has any recommendation for a reliable property agent? Thanks.

I don't see property prices would come crashing any day soon when the Govt simply would not sell land if it is too cheap. Even for "lousy" 99 year condo. http://www.businesstimes.com.sg/sub/news/s...,294066,00.html? URA rejects sole bid for Tampines condo site, saying it's too low By KALPANA RASHIWALA Email this article Print article Feedback FOR the fourth time this year, the government has rejected bids at a state land tender for being too low, amidst weakening property market sentiment and rising construction costs that have forced bidders to clip their land bids. And what's interesting is that in three of the four instances, the top or sole bidder was the Midview group, involved in the construction and property businesses as well as in general trading. The company, controlled by Lim Kim Hong and Lim Huixing, has its office at Midview Building at Bukit Batok Street 23. Yesterday, Urban Redevelopment Authority (URA) turned down the sole bid for a private condominium housing site at Tampines Avenue 1/Avenue 10 as the price offered was too low. The 99-year leasehold plot, which faces Bedok Reservoir, drew a bid of about $118 per square foot per plot ratio (psf ppr) from Midview unit Boon Keng Development Pte Ltd. The sole bid was below general market expectations, which ranged from $150 to $230 psf ppr. When the tender for the site closed on Aug 12, most property consultants had already said there was only a slim chance of the site being awarded. The three sites where bids were earlier rejected by the state for being too low were the Ten Mile Junction site in Choa Chu Kang (which was to have a residential component), a landed housing plot at Westwood Avenue in Jurong, and a transitional office site at Aljunied Road/Geylang East Avenue 1. Midview group was the top bidder for the Westwood Avenue plot as well as the sole bidder for the transitional office site. Analysts have also pointed out that some of these sites were not that attractive to begin with. The latest Tampines plot that was not awarded, for instance, does not have strong attributes like transportation links or proximity to amenities. An industry observer also highlighted an element of opportunistic bidding seen, especially on the part of contractors, at recent state tenders. 'With the current market uncertainty and most developers keeping away from land tenders, some players see a chance to try and get land on the cheap and hopefully reap a windfall. I guess it's their business strategy: They can manage construction costs better, plus if they can get land at low cost, and even if the property market comes down, say, 30-40 per cent, they would still be OK,' he said. The Tampines Avenue 1/10 plot was offered through the confirmed list of the Government Land Sales programme where sites are released according to a pre-stated schedule and the government's minimum or reserve price is not made known. Separately, the Housing & Development Board yesterday made available for application a 99-year condo plot at Yishun Ave 2/Yishun Ave 7/Canberra Drive through the reserve list. The plot will be launched for tender only upon successful application by a developer, with an undertaking to bid at a minimum price that is acceptable to the state.

just got home after a kpo session in CTE between Amk Ave 3 and Ave 1. Was at home watching TV and since my home is relatively near the E'way, heard this EEEEEE SCREECH and BUANG sound. my parents and me kpo-ed and drove to see what happened as I pictured in my mind 2 badly wrecked cars as i heard 2 tyre screeches and buanged! went past and saw no car, but a Azera taxi. You know how fast and furious they can be especially it's like 2am in the morning. could jolly well be doing 150-160 when it skidded and 360 degree-ed. the stretch btw Ave and Ave 1, as most SLE/CTE travellers know, is now undergoing extension from 3 lane to 4 lane. So obviously concrete blocks took the place of the barriers. Azera's front bumper kindly buanged the concrete and impact was so great, it pushed 3 pieces of concrete off it's course and landed in inside the extension area. Azera front bumper dropped and radiator CUI ah! rear bumper all black and full of scratches. There was a 40 seater bus also @ the road side. Guess it either was avoiding the bus or something happened. guess it must have head on to the barrier first, then 360 deg then rear bumper kena buang, den came to stop. But the tyre screeching was so loud till i could hear it 500m away. 500m away, WITH trees buffering the noise. that was how loud it was. I end again with Speed thrills but kills. in this case, kill goberment property! =( Just posted this to share

Singapore property set for a fall By John Burton in Singapore Published: August 17 2008 17:35 | Last updated: August 17 2008 17:35 Singapore has taken on the appearance of a vast building site. Old apartment blocks are being torn down to make way for futuristic condominiums, including one in the shape of a huge sail. A new financial district in central Singapore is rising next to the city-state

As above, some ppl ask me to juz go and buy coz it will nv drop, it will even increase, buy asap before it increase again. But some ppl ask me to wait coz it will drop... Who is right? Thanks!

Hi bros, any comments??

http://www.channelnewsasia.com/stori...354504/1/.html Private home sales jump in May By Ng Baoying, Channel NewsAsia | Posted: 16 June 2008 2150 hrs SINGAPORE: There has been a sharp pick-up in the number of private home sales in May - more than 441 homes changed hands, about 56 per cent higher than the previous month. Despite the spike, analysts said it is premature to talk about any strong rebound in the property sector. Colliers International's director of research and advisory, Tay Huey Ying, said: "I wouldn't say that this set of May numbers give a positive indication that the market is moving. But I think looking at last six months' developer launches and sales volume, the market has reached a stable state, with launch volumes at 400-450 range, and sales volumes at 300-350 range. "The fact that market can reach this consistently, despite prices remaining stubbornly firm, this means that the current price levels are well supported by homebuyers." Analysts added that even though May numbers come as a pleasant surprise, this bump upwards is also typical of the yearly property cycle. Propnex Realty CEO Mohamed Ismail said: "The number has picked up a fair quantity compared to April. Generally speaking, the second quarter usually does better than the first quarter. Things start to pick up, and in the month of April, May, June, July, one can expect (the) numbers to grow." Ms Tay pointed out: "Monthly fluctuations in developer sale and launch volume (are) to be expected. But this set of May numbers... is indeed a very pleasant surprise." About 61 per cent of homes sold in May were under S$1,000 per square foot, suggesting that purchasers are genuine homebuyers, rather than speculators. Analysts said a large decline in prices is unlikely going forward, although a marginal dip of one to two per cent may be possible. "This is, to an extent, a buyer's market. On the other hand, developers are not bringing the price down drastically. Many (are) holding prices because (the) fundamentals of economy and demand of such properties (are) still there. So I don't expect prices to slide down," said Mr Ismail. Knight Frank and CB Richard Ellis also noted that prices have stayed firm, contrary to market expectations. Although some analysts called this a buyer's market, they also noted that sellers are taking a more measured approach. Colliers said developers are likely to stay off launching luxury and super luxury projects until there is a clearer sign of market recovery. - CNA/ac

hi. would like to find out this. if one bought a landed property in sgp valued for 2million at transaction. what is the property tax for this property annually? if the property is worth 3million now, how is the tax calculated then? thanks.

I am kind of curious, is there anyway I can get my wife's parent's neighbour to stop parking his/her car outside 24/7? They have their own personal driveway but they always park outside on the public road taking up precious parking space for visitors. I thought last time there was a case whereby the traffic police fined someone for doing that? What do you guys think of such behaviour?

Last Saturday paper featured property agents and their trade....some claimed to be even making $50000 per mth on the average. ....But then there are agents who are ethtical and those who are termed as rogue agents. There has been talk ( with little results ) after all these years, of rules and regulations to rein in the agents who 'take their customers' for a ride. There are even some who use legal jardons to scare their clients. With the current property boom, it is no wonder many agents are 'up to their old tricks' again. Of course, not to be biased, there are times that the agent's clients are at fault. So what are the pitfalls and good points to look out for when dealing with property agents? All MCFers who had good or bad experience, are up for discussion in this post ( including sales and rental ) to make forumers more aware of the pitfalls when dealing with an agent.

Hi guys, Noticed from my dad's CPF statement that his property (HDB flat) is pledged in lieu of minimum sum. Seems like a default thing. Question - Is there anyway to be exempeted / excused from the pledging ah?

I am sure many bros here have encountered ur cars being vandalised and for some of you, even repeated times. im pretty sure theres an increasing amount of such cases happening but probably due to the nature that these cowards are difficult to trace and due to the lack of incentives or lax penalties that leads to insufficient resources allocated to capturing them. i personally am a victim of repeated vandalism, i've repeated to police but seems to no avail, resprayed my car twice before and now my car is 3 yrs old and its still getting vandalised at my house carpark. Suggestions: 1. Higher fines 2. Repeated offenders should be jailed or even caned(as if vandalism on public property) 3. Incentives for people who report and catches these offenders(etc good citizen award..) 4. Campaign on awareness of vandalism These are some of my personal opinions, hope some of the bros would like to share ur views and opinion here. thx

can anyone recommend me any good website? I did a google search and most of those websites are messy and i can't ascertain which are the popular ones. Thanks